2. If stock market is trading in a negative direction than remember to go short in the stocks which are trading in negative side and do not go short in those stocks which are trading in positive direction.
3. Remember that one should not go by preconceived notions and an example of the same is that it is not necessary that a stock which is weak today during intraday trading might be weak tomorrow also and vice versa is also true.
4. One must monitor the overseas market because if US Markets have gone up overnight, than it is very high probability that Indian markets will open strong. One can check the rates of Indian ADR Prices and can thus benefit in Indian stock market by virtue of reliable information. However one has to be careful when buying stocks as the general psychology of public is to buy when good news is there. Thus Research for Indian stocks is of utmost importance.
5. One can benefit being contrarians in day trading in share market.
6. Remember to use the stop loss efficiently while day trading.
7. One can remember the guru mantra of trading in liquid stocks i.e. stocks with high volume because it provides an easy entry and exit in stocks.
8. One can undertake the paper trading before testing the day trading in actuality. However remember that to make money in paper and making money in actuality are two different things as paper trading lacks the emotion aspect.
9. Trade with a constant volume and do not get exuberated by gains achieved.
10. As a new trader one should trade with quantity of stocks which is manageable. Initially make constant endeavor to keep the fear and greed under rein else you will have lot of tension.
11. One can get further day trading tips for which I will be making a column in the side bar. DO keep a look out for day trading tips column in side bar as it will give you all the ideas which can make one a successful day trader.
